Citi analyst Brendan Sproules downgraded National Australia Bank Limited (NAUBF – Research Report) to a Sell today and set a price target of A$25.75. The company’s shares closed last Wednesday at $20.79.
Sproules covers the Financial sector, focusing on stocks such as Westpac Banking, ANZ Group Holdings, and National Australia Bank Limited. According to TipRanks, Sproules has an average return of 1.8% and a 40.52% success rate on recommended stocks.
National Australia Bank Limited has an analyst consensus of Hold, with a price target consensus of $19.13, a -7.98% downside from current levels. In a report released yesterday, CLSA also maintained a Sell rating on the stock with a A$31.20 price target.
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The company has a one-year high of $21.44 and a one-year low of $15.95. Currently, National Australia Bank Limited has an average volume of 5,325.
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National Australia Bank Limited (NAUBF) Company Description:
National Australia Bank Ltd. engages in the provision of banking and financial services. Its services include banking, credit and access card facilities, leasing, housing and general finance, international banking, investment banking, wealth management, funds management and custodian, trustee and nominee services. The company operates through five segments: Consumer Banking & Wealth, Business & Private Banking, Corporate & Institutional Banking, NZ Banking, and Corporate Functions & Other. The Consumer Banking & Wealth segment provides customers with access to independent advisers, including mortgage brokers and the financial planning network of self-employed, aligned and salaried advisers in Australia. The Business & Private Banking focuses on serving customers through NAB Business franchise and specialist services in key segments. The Corporate & Institutional Banking segment provides lending and transactional products and services related to financial and debt capital market, custody and alternative investments. The NZ Banking segment comprises of retail, business, agribusiness, corporate and institutional, and insurance franchises in New Zealand that operates under the Bank of New Zealand brand. The Corporate Functions and Other segment include treasury, technology and other supporting units. The company was founded on October 4, 1858 and is headquartered in Melbourne, Australia.
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